Wizz Air: The European airline which has India in its sights

File image of a Wizz Air aircraft (Image Source: Wizz Air)

Wizz Air, a 20-year-old budget carrier from Hungary, may not have neem heard of in India but the airline plies a fleet of 121 Airbus aircraft to 155 cities in 45 countries primarily in Europe, the Middle East and Central Asia.

In an interview on April 28, Wizz Air Holdings CEO Jozsef Varadi said India is a growing opportunity. There’s great potential in India, as the country has seen immense development. I think it may help Europe tackle its employment issues, while its emerging middle class will boost tourism. We’re looking into opportunities there, but this is more a medium-term issue,” Varadi said in Budapest.

The company’s new fleet of long-range Airbus SE A321 XLR aircraft, due in 2024, could potentially open up a lucrative vein of future growth from the world’s most populous country.

Besides India, Varadi sees the Middle East as a region with greater demand.

At 11.55 am, Wizz Air Holdings PLC stock was trading in the green at 2,930.86 GBX, up 11.86 percent on the London Stock Exchange (LSE).

Also Read | Wizz Air says long-range Airbus jets will put India within reach

Here’s all you need to know about the Budapest headquartered company:

— Legally incorporated in Hungary as Wizz Air Hungary, its headquarters is in Budapest, while parent company Wizz Air Holdings is in Jersey and listed on the LSE FTSE 250 Index.

— It has the largest fleet for any Hungarian airline but is not the national carrier and serves 44 countries.

— Established in September 2003, it began operations in May 2004. It began trading on the LSE in February 2015.

— It employs around 5,500 people and is among the leading low-cost airlines in Europe, and the largest in Central and Eastern Europe, as per the company’s LinkedIn page.

— In 2016, it carried a milestone 34 million passengers and followed it up with a new milestone of 200 million passengers in 2019, on its 15th birthday, the company website states.

— It has a fleet of 153 Airbus A320 aircraft with an average age of 5.2 years, the company website says. These include 59 A320-200s, 41 A321ceos and 47 A321neos.

— It functions at more than 190 airports across 51 countries through over 1,100 routes, the website added.

— In 2017, the airline launched Wizz UK and opened its London offices.

— In May 2019, the airline claims to have recorded the smallest environmental footprint per passenger in Europe at 56.5g CO2 per passenger/km. It expects to further cut emissions by CO2 emissions per passenger by a third by 2030.

— In 2020, Wizz was named the "Best Low-Cost Airline in Europe" by Airlineratings, an airline safety and product rating review website.